The Office of the Comptroller of the Currency (OCC) reported that 97.7 percent of first-lien mortgages in the federal banking system were current and performing at the end of the second quarter of 2026, up from 97.5 percent in 2025.
The OCC Mortgage Metrics Report, Second Quarter 2026 also showed that the percentage of seriously delinquent mortgages decreased from the second quarter of 2025. Seriously delinquent mortgages are those 60 or more days past due, plus all mortgages held by bankrupt borrowers whose payments are 30 or more days past due.
Servicers initiated 7,904 new foreclosures in the second quarter of 2026, an increase from both the previous quarter and a year earlier. They completed 7,349 modifications during the quarter, a 16.5 percent increase from the previous quarter's 6,308 modifications.
Of those 7,349 modifications, 7,107, or 96.7 percent, were "combination modifications" — modifications that included multiple actions affecting the affordability and sustainability of the loan, such as an interest rate reduction and a term extension.
The first-lien mortgages included in the OCC's quarterly report comprise approximately 18.8 percent of all residential mortgage debt outstanding in the United States, or approximately 10.1 million loans totaling $2.6 trillion in principal balances. The report provides information on mortgage performance through June 30, 2026.